Our 1|2|3 Student Current Account is designed for adults, aged 18 or over, who are about to begin or have started an undergraduate course that is at least 2 years in length, or level 4 to 7 apprentices (degree equivalent).
As long as £500 goes into your account each academic term, and you register for Online Banking, you'll get the following:
A free 4-year Santander 16-25 Railcard which could save you 1/3 off rail travel in Great Britain
An interest-free and fee-free Arranged Overdraft, up to £1,500 in years 1-3, then up to £2,000 if you stay on to year 5 (overdrafts are subject to status).
3% AER / 2.96% (variable) interest on your balance from £300 up to a maximum of £2,000
Access to 1|2|3 World offers, including preferential rates and special deals on other Santander products.
A Santander Debit card for making purchases and accessing your money at cash machines.
At the end of your studies, your account will automatically transfer to our 1|2|3 Graduate Current Account which comes with a £2,000 interest free and fee free Arranged Overdraft.
Remember, if you switch your current account to us, we'll move it across in 7 working days, so you can start making the most of your account.
If you already hold a Santander current account or would like to switch your account from another provider, please visit your local Santander branch.
Please read the full product details, Key Facts document, Fee Information Document and Terms and Conditions before applying. Other
1|2|3 Student Current Account features
If you are 18 or over and eligible for our Student Current Account, you get a free 4-year 16-25 Railcard which could save you 1/3 off rail travel in Great Britain.
From 6 April 2016, interest is received gross, with no income tax deducted. Take a look at our information pages to learn more
1.00% AER/gross (variable)
|2.00% AER/1.98% gross (variable)||£200+|
|3.00% AER/2.96% gross (variable)||From £300 to £2,000|
Interest is paid monthly on the first £2,000 of your entire balance once you have at least £100 in your account.
Interest-free and fee-free Arranged Overdraft
|Year of study||Arranged Overdraft limit|
|1, 2 and 3||£1,500|
When you open your account you'll get an Arranged Overdraft limit of £250 as soon as we’ve checked you’re an eligible student. To increase this to £1,500 you need to pay in £500 and continue to pay in at least £500 per academic term.
You can ask to reduce your overdraft limit at any time. You may notice as you start a new academic year that your overdraft limit automatically increases in line with the allowances we've set out above. Don't forget that you can always ask us to reduce the limit if you don't want to have a larger overdraft.
How it works
Open the account and register for Online Banking
Pay in at least £500 per academic term
Pay in £500 to increase the overdraft limit from £250 to £1,500
Receive a unique code through your Online Banking to get your free Santander 16-25 Railcard
There is a limit of one 1|2|3 Student Current Account per person
This is a paper-free account which means:
We can switch your existing current account for you in just 7 working days, including your Direct Debits, standing orders and salary (see switching tab for more details).
What you can get
Santander contactless debit card - a quick and secure method of buying goods and services at home and abroad.
Fee free Arranged Overdraft.
Retailer Offers - earn cashback of up to 15% at a range of major retailers when you use your Santander Visa debit card.
Santander debit, contactless and overdraft are subject to status.
You can use this account to
Set up Direct Debits and standing orders
Transfer money online, including Faster Payments
At the end of your studies, your account will automatically transfer to our 1|2|3 Graduate Current Account which comes with a £2,000 interest free and fee-free Arranged Overdraft.
If you're studying for an apprenticeship
As your course period may not match a standard university academic year, you may find that your overdraft limit changes earlier than expected (in line with the account’s overdraft structure) and, that your account may move to the graduate account before you finish your course.
|Unarranged Overdraft Usage Fee||£5 per day (capped at 10 days in each monthly statement period)|
|Fee for allowing a payment despite lack of funds||£5 per transaction|
|Fee for refusing a payment due to lack of funds||£10 per transaction|
The 1|2|3 Student Current Account has a monthly cap for Unarranged Overdraft fees of £50 which includes fee for allowing or refusing a payment due to lack of funds.
If you try to make a payment that would take you into an Unarranged Overdraft, we’ll decide whether or not to pay it depending on your circumstances. As a result, you may incur a fee for allowing or refusing a payment due to lack of funds.
We have other borrowing options, such as credit cards, personal loans, and additional loans for our existing mortgage customers. Learn more about our borrowing options
There are other charges applicable with this account, such as when you use your card abroad. Please refer to the Fee Information Document and Terms and Conditions for details.
We’ll automatically send you alerts about your balance to help you avoid charges e.g. when you’re in an Unarranged Overdraft, a payment has gone unpaid or you need to pay money in to cover a payment. These alerts will be sent by text message and/or email.
Once your account has been set up you can update your alert settings at any time by logging on to Online Banking, visiting one of our branches or by calling us on 0800 9 123 123.
Switching your existing current account to the 1|2|3 Student Current Account
Stress-free switching in just 7 working days
You can either switch to a new account, or one you've already got with us
Our dedicated switcher team will switch all of your Direct Debits, standing orders and your salary
Choose when your switch starts - this can be up to 60 days in the future
Your switch will only take 7 working days
We'll keep you updated of progress by letter, text and e-mail
We'll close your old account and redirect any payments to your Santander Current Account
Our switcher service is rated 5 Star by Defaqto, an independent financial research company, so you can be confident your current account switch is in the best hands.
How to switch
If you have an account with another provider that you’d like to switch to us, please visit your local branch
If you’ve completed your first year of study at university, you must switch your existing account to be eligible to open a student account.
To switch you'll need to give us
your existing sort code and account number
your existing debit card number and expiry date.
Check if your current bank or building society is signed up to the Current Account Switch Service
For more information please refer to our Switch Your Current Account Factsheet
From day-to-day banking to analysing how you spend, do it your way
Because we know you have busy lives and are often on the move, we want to give you ways to bank that make life easier. We're always looking for new ways to bank that help you do what you need to do, with your phone, computer or in person.
So if you're taking a break from studying in the library, log on with your tablet to check the interest you've earned. If you want to pay a friend for your share of a night out, use Paym on your mobile to make a quick transfer with no need for bank details. And if you're on the high street pop in for the personal service.
Need a helping hand? Use Send Me the Link to send yourself our mobile apps, videos, guides, & factsheets
Send me the link allows you to send yourself links for our mobile apps, videos, guides, & factsheets which can help you with your Online & Mobile Banking needs. Access Send Me the Link here.
Here are just a few of the things you can do:
Our fastest growing way to bank. Use your phone or device to:
And much more
24/7 banking on your desktop or laptop computer. Everything you can do on mobile, plus:
And much more
Come in and see us for:
Use our ATMs for:
|Post Office |
Protect yourself from fraud
It’s very important that you keep your banking details private and secure.
For more information about our approach to security as well as more useful information to help you stop the threat of fraud visit our Security Centre.
Save 1/3 on UK rail travel with the Santander 16-25 Railcard.
You must be aged 18 or over and have a confirmed place at university to open this account
How to get a 16-25 Railcard
Open a new 1|2|3 Santander Student Current Account
Pay in at least £500 per academic term (for example from your income, student loan or grant)
A unique code will be sent via secure message to your Online Banking within 5 working days of account opening
How to order your 16-25 Railcard
Get the unique code sent via secure message to your Online Banking
Your unique code is valid for 60 days from the date of issue and cannot be re-issued once expired.
You'll receive your 16-25 Railcard within 5 working days of completing your order.
It's more than just cheap rail travel
With a 16-25 Railcard you'll get exclusives deals on holidays, eating out, top attractions and many more deals.
Santander 16-25 Railcard important information
Before you use your 16-25 Railcard, please read the Santander 16-25 Railcard Terms and Conditions.
One Railcard per 1|2|3 Student Current Account.
There is no cash alternative to the Railcard and it is not transferable to any other person.
The unique Railcard code must only be redeemed by the Santander 1|2|3 Student Current Account holder.
The Railcard will be issued and maintained by the Rail Delivery Group.
The Railcard can only be used in mainland Great Britain; that is England, Scotland and Wales. It can't be used on train services in Northern Ireland or the Republic of Ireland.
For more information on the Santander 16-25 Railcard please see our FAQs below or visit the Rail Delivery Group FAQs page.
Everything you need to know before you apply
We recommend reading the information in the documents below before you apply. You should print or save copies of these documents for your records and future reference.
1|2|3 Student Current Account Key Facts Document including Pre-Contractual Information and FSCS Information sheet and Exclusions List
Fee Information Document details the main fees and charges on this account
General Terms & Conditions including Terms of Business
After you have completed your course
1|2|3 Graduate Current Account Key Facts Document including Pre-Contractual Information (once you finish your studies, you will automatically transfer to this account)
To view these documents, you may need to download Adobe Reader.
Before applying please remember to read the full details and terms and conditions sections.
You can apply for a new 1|2|3 Student Current Account if you:
If you're about to begin your university studies, you must have a ‘confirmed conditional’ offer (this is given once you have received your results) or an ‘unconditional’ offer of a university place. If you have a conditional offer only, please wait until your place has been confirmed following your results before applying.
If you're about to begin an apprenticeship, your place on the apprenticeship must have been confirmed. If your offer is subject to you achieving certain results, please wait until your place has been confirmed following your results before applying.
As part of your application:
How to apply:
|If you don’t already have a Santander current account|
|If you do already have a Santander current account|
AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year.
Gross rate explained
The gross rate is the interest rate we pay where no income tax has been deducted.
Rates may change and we pay interest each month.
EAR stands for Effective Annual Rate and represents the yearly cost of an overdraft, which takes account of how often we charge interest to the account, and does not include any other fees or charges.
Overdrafts depend on your circumstances and you must repay any overdraft when we ask in line with our General Terms and Conditions.
Information correct as at 17 October 2018.
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